03.06.2016 — Attorneys Are Not Obliged to Bring Diploma to Court

The State Duma has accepted in the second reading, and the President Vladimir Putin has signed amendments to the Administrative Procedure Code according to which attorneys are not obliged to show in court the diploma about the higher legal education. According to these amendments, attorneys only have to submit to court the documents certifying their status and powers.

In this regard, the Federal Chamber of Lawyers explained that it is impossible to receive the attorney status without graduating from law school and respectively attorneys are not obliged to present their diploma about higher education.

02.06.2016 — Businesses Are Now Able to Calculate Costs for Implementation of New Bills Independently

The Ministry of Economic Development has launched a service (see regulation.gov.ru) which allows businessmen to calculate possible expenditures due to introduction of laws or departmental orders. Completeness and feasibility of calculations are secured by multiple constants which take into calculation not only material, but also time or administrative expenses.

As an example, by means of the online calculator officials have calculated joint costs which will be incurred by businesses in implementing the Order of the Ministry of Natural Resources and Environmental Protection of the Russian Federation “On Approval of the Accounting Procedure Relating to Waste Disposal”. As a result, it turned out that businessmen should spend 18 billion 385 million 591 thousand RUR to satisfy the requirements of this document.

Now entrepreneurs are able independently to check expenses against planned purposes and in case of disagreement can express their opinion directly on the unified platform during public discussion of the bills. To what extent these opinions will affect the final fate of the initiatives is still difficult to predict.

01.06.2016 — Antimonopoly Compliance to Preserve Companies from Fines

The amendments to the Federal Law dated 26.07.2006 N 135-FZ „On protection of competition” proposed by the Federal Antimonopoly Service (FAS) introduce the concept of antimonopoly compliance implementation of which will let companies obtain discounts up to 12,5% on turnover-based fines. The discount can be consequently increased.

Be reminded that earlier FAS suggested that introduction of an internal system to prevent violations of the antitrust law implicates relief of liabilities for the companies. Thus, if the company adopted a compliance-program, independently revealed and eliminated violation, then it can be freed from penalties, and if the company only managed to minimize the consequences, then the penalty can be lowered.

31.05.2016 — Germany Considers Russia a Rival

The authorities of Germany have amended the guidelines on conducting the national seсurity policy of the country, aka “The White Book”, according to which Russia “has turned away from the West” and has become a rival. In the long term, Germany, without hesitating, declares that if Russia doesn't change its policy line, then it will be regarded as a “security challenge”.

Interestingly enough, shortly before amending the White Book Angela Merkel, while speaking before the party congress, offered a strategy of gradual rapprochement of Russia and Europe towards creation of a united economic zone from Lisbon to Vladivostok.

Be reminded that currently the European Union is discussing the possibility of extending the anti-Russian sanctions for another 6 months. The final decision will be adopted at the European Union Summit at the end of June.

30.05.2016 — GDP Fall Forecast in Russia in 2016 to Be 1,7% Worse Than Expected

The Organization for Economic Cooperation and Development (OECD) has introduced the results of the last forecast relating to the decrease in real GDP of Russia: in 2016 the fall of 1,7% is expected, and in 2017 Russia should anticipate 0,5% growth. For comparison, the previous forecast predicted recession at the level of 0,4%. Forecasts of the organization are calculated on the basis of the current oil prices.

In the „Review of financial stability” published by the Bank of Russia it is reported that revival of corporate crediting since October, 2015 does not mean that the economy is in the ascending phase of its credit cycle. To the contrary, since 2014 cyclic recession in economy is taking place, which is why the Central Bank keeps the “anti-cyclic raise” within Basel standards equal to zero.